Do search frictions matter for inflation dynamics?
نویسندگان
چکیده
منابع مشابه
Search Frictions , Real Rigidities and Inflation Dynamics Carlos
The standard New Keynesian model suffers from the so-called .macro-micro pricing conflict: in order to match the dynamics of inflation implied by macroeconomic data, the model needs to assume an average duration of price contracts which is much longer than what is observed in micro data. Here I show how departing from the standard model’s assumption of a perfectly competitive labor market can h...
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ژورنال
عنوان ژورنال: European Economic Review
سال: 2008
ISSN: 0014-2921
DOI: 10.1016/j.euroecorev.2008.08.002